Stifel Nicolaus ups profit estimate for Berkshire

SteveGelsi

NEW YORK (MarketWatch) -- Analysts at Stifel Nicolaus on Tuesday hiked their third-quarter earnings estimate for Warren Buffett's holding company, Berkshire Hathaway
BRK.A, -1.11%BRK.B, -1.00%
on expected strong results its Geico and other insurance units, as well as other strengths. Analysts now forecast Berkshire to earn $2,133 a share in its fiscal third quarter, up from their earlier estimate of $1,974 a share and above the analyst consensus target of $2,009 a share. They also increased their 2013 profit target for the company to $8,512 a share from $8,273 a share. Despite Hurricane Isaac, third-quarter global catastrophes are likely to come in under trend in a boost to Berkshire's reinsurance business, analysts said. Total unit volume at Burlington Northern Santa Fe rose 5.7% on an uptick in coal volume.

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